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Hedge fund billionaire says US may face ‘worse than a recession’ from Trump tariffs (www.theguardian.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Ray Dalio’s comments come after rocky week across stock markets after policies including 145% tariff raise on China

Billionaire investor Ray Dalio said that he is worried the US will experience “something worse than a recession” as a result of Donald Trump’s trade policies.

Speaking to NBC’s Meet the Press on Sunday, the 75-year-old hedge fund manager said: “I think that right now we are at a decision-making point and very close to a recession. And I’m worried about something worse than a recession if this isn’t handled well.”

He went on to add: “A recession is two negative quarters of GDP and whether it goes slightly there. We always have those things. We have something that’s much more profound. We have a breaking down of the monetary order. We are going to change the monetary order because we cannot spend the amounts of money.”

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[–] conditional_soup@lemm.ee 31 points 1 week ago (1 children)

Oh no, did somebody gamble with everyone's safety and security that making a nuclear state go mask-off fascist would deepen their negative tax rate?

[–] UnderpantsWeevil@lemmy.world 10 points 1 week ago (1 children)

The Network State: How to Startup a Country

It's so much more ambitious than that. They explicitly want Balkanization and formalized oligarchy along the Singapore/S. Korea/Hong Kong/Philippines model.

[–] conditional_soup@lemm.ee 12 points 1 week ago (1 children)

They want balkanization? I want Balkanization because I think it would break the federal government's kneecaps (making it harder for corporates and fascists to leverage) and finally let Texas and Florida stop dragging everyone else down. I'm now automatically more suspicious of my own position.

[–] UnderpantsWeevil@lemmy.world 11 points 1 week ago

They want balkanization?

Yes. That's a lot of what the "Freedom Cities" push is about. Create a network of autonomous enclaves where a single billionaire or board room effectively operates as a tyrant. Govern everything through permissions-based digital infrastructure (id badges to enter and leave any building or use any transit service, credit scores determined by years of service and employer approval rating, all property rented from the local oligarch, all residents are just at-will employees). It's a pure technocratic Company Town model.

I want Balkanization because I think it would break the federal government’s kneecaps

Part of the insanity of it all is in how guys like Musk and Theil and Zuckerburg and Bezos don't see any inherent value in a public federal system. They consider federalism an impediment to their vision of techno-feudalism and they see the money that the federal government uses to staff and support itself as resources wasted on a bureaucracy better managed by the private sector.

They are Anarcho-Capitalists in the most literal sense.